Economics - November 2007

One of the on-going political and economic issues is that of the minimum wage. Essentially there are those who feel that a minimum of $5.85 (now $7.15 in NY State) is just a poverty wage. There are those who believe that the minimum needs to be up in the $8.00 range to make it a living wage. Others believe that any increase in the minimum will create inflation and more unemployment of low end workers. What is your take on this?

2007-11-09 11:00:30 · 5 answers · asked by CD 1

2007-11-09 09:41:33 · 2 answers · asked by lightbulb627 1

2) it is inflationary for gov't to increase spending if:
a) the economy is at full employment
b) aggregate supply curve is flat
c) equilibrium real gdp is well below full employment
d) it also cuts taxes


3) automatic stabilizers tend to stabilize the level of real gdp becausse:

1) the spending and tax multiplier are constant
2) federal expenditures and tax revenues change as the leve of real gdp changes
3) congress quickly changes spending and tax revenue
4) wages are controlled by the min wage law.

are both answers b?

2007-11-09 09:09:04 · 2 answers · asked by Anonymous

2) It is inflationary for gov't to increase spending if:
a) the economy is at full employment
b) aggregate supply curve is flat
c) equilibrium real gdp is well below full employment
d) it also cuts taxes

is the answer a

3) automatic stabilizers tend to stabilize the level of real gdp becausse:

1) the spending and tax multiplier are constant
2) federal expenditures and tax revenues change as the leve of real gdp changes
3) congress quickly changes spending and tax revenue
4) wages are controlled by the min wage law.

the answer b or c?

2007-11-09 08:53:19 · 3 answers · asked by Anonymous

why is this difficult to explain using the classical model?
how could the keynesian model explain it ?

2007-11-09 07:24:28 · 2 answers · asked by cmy 1

2007-11-09 06:46:04 · 3 answers · asked by cmy 1

2007-11-09 05:12:47 · 3 answers · asked by GLM 1

True or false ?

2007-11-09 03:52:44 · 6 answers · asked by Anonymous

I have read all my material and answered 8 other questions but these two I cant come up with the answer, please help...

In the airline industry, is price elasticity of demand considered elastic or inelastic? Are there any substitutes available? Is the good a luxury or a necessity? Can anyone give me some hints?

What is the price elasticity of supply for the airline industry?

2007-11-09 01:48:57 · 9 answers · asked by Anonymous

2007-11-09 01:38:08 · 3 answers · asked by Anonymous

According to the survey by Transparency International more than Rs. 28000 crores(30 billion) per year is given as bribe in the public offices in India at a time when nearly 28% of its people go to bed on empty stomach and another 52% of people's daily income is less than a dollar ( Rs 40+). On the other side, India has made rapid stride in Science and Technology, has one of the best talent in the world in Information Technology and has achieved 9+ growth rate with a very impressive Forex reserve.Don't you think that if only the Corruption is less the achievement would be far greater and long sustaining?

2007-11-08 22:45:36 · 4 answers · asked by Thimmappa M.S. 7

An example of expansionary fiscal policy would be cutting?

a. taxes
b. government spending
c. production of consumer goods
d. prices of consumer goods

2007-11-08 19:39:40 · 5 answers · asked by Anonymous

a. tax cuts
b. the costs of running a war
c. increased funding for defense spending
d. an unexpected economic downturn

2007-11-08 18:14:34 · 5 answers · asked by Anonymous

Both long and short term? I'm trying to understand the neocon globalists like Bush who say protectionism hurts American economy. I'm a Paleocon.

2007-11-08 14:03:37 · 11 answers · asked by asdf 1

Most consumers get near to nothing from war spending. The dollar is at an all time low. Many of our international lenders and those that sell to us things we need (like oil), are asking to be paid in currencies other than our dollar. That is real inflation, but our salaries and our savings from CD interest are not going up. I am afraid a real economic catastrophe may occur, are you ?

2007-11-08 10:56:00 · 6 answers · asked by johnfarber2000 6

What is the real cost of unemployment for our society?

2007-11-08 09:04:36 · 1 answers · asked by scalizithaproblem 3

2007-11-08 08:19:01 · 3 answers · asked by Anonymous

Face it, the US Dollar is in the tank. I've never seen US currency so low overseas. Cost of living has skyrocketed, gasoline, heating fuel and milk has reached never before seen prices. Housing has always been overvalued. The subprime loans are just corrupt banking practices like the savings and loan scams. In my opinion we might end up paying for another bank bailout. Isn't the US economy just a house of cards waiting for a small breeze?

2007-11-08 06:29:26 · 11 answers · asked by rick w 2

I'm just curious if it's only the US paying these outrageous prices. The lowest price per gallon for 87 in my town is $3.15.

2007-11-08 06:18:04 · 9 answers · asked by bunny77 3

appreciate it if you tell me where you get your source from...thx

2007-11-08 04:16:13 · 7 answers · asked by jls10 3

Tainted dog food, lead paint on toys and now drug-laced toys.

Is it China or a lack of oversight by the companies outsourcing?

2007-11-08 03:03:05 · 6 answers · asked by Phil M 7

Should the government intervene in the economic system (think Keynesian based fiscal policy, e.g. the government controlling its spending/borrowing to manipulate the economy) ?

2007-11-08 02:50:40 · 6 answers · asked by CanadianGuitar 2

I don't have a very good understanding of modern economics and just trying to understand what is going on with the dollar.

2007-11-08 00:03:56 · 2 answers · asked by kdl2584 2

I have read varying reports and there is no necessarily set standard, though I have read that anything between $100,000 and $200,000 is upper middle class, but then sometimes anything over $80,000 I have read is upper middle class.

Any insight?

2007-11-07 19:37:38 · 9 answers · asked by Anonymous

I know it speculative but I was hoping someone with more knowledge of economics might like to give me their opinion.

I am from UK but now live in US. I am selling my house shortly (UK) and will have a considerable sum of money coming to me in GBP. With the dollar nose diving to european currencies is it wise to change my GBP to USD or wait for now. Whats the chance of the dollar recovering anytime soon??

Any advice of feedback would be much appreciated.

2007-11-07 16:31:19 · 2 answers · asked by scotty 2

How does the free market prevent monopolies? Is there some sort of internal mechanism that regulates it self to prevent monopolies?

2007-11-07 15:41:52 · 3 answers · asked by bob 3

The last time we were in one, I was a child. Thanks.

2007-11-07 15:00:27 · 3 answers · asked by SuzieQ92 3

History.

2007-11-07 14:13:56 · 2 answers · asked by Nikki 1

i'm working on a debate case for school, and it would be helpful to know this information. to tell you the truth, it would help my case if the a recession and surplus can coexist, but i have some doubts.

what do you say?

2007-11-07 13:50:32 · 3 answers · asked by sdavila19 3

OK I'm talking about NON-PETROLEUM products, but despite the falling dollar, non-petroleum import prices fell 0.1% in August and fell 0.2% in September, and for the year ending September rose only 2.0%, less than general inflation.

So considering how everyone keeps saying that the falling dollar will make us "poorer" or "cause inflation" or reduce the amount of Christmas presents I can buy, how come the truth is the opposite and imports are getting cheaper?

2007-11-07 12:32:34 · 2 answers · asked by KevinStud99 6